The Other Side of Life 24/7: Daily Investor Briefing: Wall Street falls on weak energy...

Monday, September 17, 2012

Daily Investor Briefing: Wall Street falls on weak energy...

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09/17/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street falls on weak energy prices

NEW YORK (Reuters) - Stocks fell on Monday in light trading after a rally that drove the S&P 500 last week to its highest level in nearly five years and as falling oil prices hit energy shares.

U.S. launches auto case against China, Beijing fires back

CINCINNATI/GENEVA (Reuters) - President Barack Obama on Monday said the United States was challenging Chinese auto and auto-parts subsidies that threatened American jobs as he campaigned in Ohio, an auto manufacturing state that could be decisive in the November presidential election.

Apple sells 2 million new phones, sets early order record

(Reuters) - Demand for Apple Inc's new iPhone 5 has exceeded initial supply as the company booked 2 million orders in one day and pushed the delivery date for some preorders to next month.

Court told of UBS "rogue trader" spread-betting losses

(Advisory: Please note the story contains strong language in paragraph 28.)

Analysis: Fidelity's Abby Johnson faces challenges on many fronts

BOSTON (Reuters) - As Abigail Johnson takes control of Fidelity Investments' most important businesses, she will have to deal with some of the biggest threats to the fund group's franchise and profitability in its 66-year history.

Google buys Instagram rival Nik Software

(Reuters) - Google Inc said it bought Instagram rival Nik Software, which makes award-winning photo editing application Snapseed, for an undisclosed amount.

IMF challenged by lending to euro zone countries

WASHINGTON (Reuters) - The International Monetary Fund acknowledged on Monday it faced "serious challenges" in designing bailout programs for troubled euro zone countries mainly because it was restricted by the rules of the 17-member currency zone.

No more big cash infusions for F-35 cost overruns: Air Force

WASHINGTON (Reuters) - The Defense Department has no flexibility or interest in any additional restructuring of the Lockheed Martin Corp F-35 programs that would lead to the transfer of billions of dollars into the program, Air Force Secretary Michael Donley told reporters on Monday.

Peregrine CEO to stay jailed as government balks at release

(Reuters) - Peregrine Financial Group Chief Executive Russell Wasendorf Sr., who confessed to bilking more than $100 million from customers of his futures brokerage, will remain in jail after prosecutors objected to a plan to release him, according to a court order.

IKEA set to boost expansion with new CEO

STOCKHOLM (Reuters) - IKEA, the world's largest furniture retailer, is set to speed up its store expansion pace as part of a bid to further boost growth after another year with record turnover.